All news by: Richard Greiner

Young professionals say London shipping must be adaptable and competitive

A new survey by The Shipping Professional Network in London (SPNL) has found  that London must adapt to a fast-changing environment and improve its competitive edge in order to remain a relevant global maritime centre. Respondents to the survey also identified access to the single market and freedom of movement as key negotiating issues for shipping in the UK’s exit from the European Union.

Future operating costs survey 2016

Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. Those responses revealed that vessel operating costs are expected to rise by 1.9% in 2016 and by 2.5% in 2017.

Fourth successive year of decline in operating costs

Total annual operating costs in the shipping industry fell by an average of 2.4% in 2015. This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators, as well as a reduction in active trading for some owners as a result of the prolonged worldwide economic downturn.

Shipping confidence levels rise to 2015 high

Overall confidence levels in the shipping industry rose in the three months ended August 2015 to their highest level this year, according to our latest Shipping Confidence Survey. Respondents to the survey were concerned predominantly about low freight rates and overtonnaging, with continuing doubts also expressed about private equity funding.

Shipping confidence levels rise to 2015 high

Overall confidence levels in the shipping industry rose in the three months ended August 2015 to their highest level this year, according to our latest Shipping Confidence Survey. Respondents to the survey were concerned predominantly about low freight rates and overtonnaging, with continuing doubts also expressed about private equity funding.